auction ring Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “auction ring” in the English Dictionary

"auction ring" in Business English

See all translations

auction ringnoun [C]

uk   us   (also bidders' ring) COMMERCE
a ​group of ​buyers at an auction (= ​publicsale) who make an ​illegalagreement not to ​compete against one another to ​buy things, in ​order to ​keep the ​pricelow. They then ​sell what they have ​bought at a ​higherprice and ​share the ​profits.
(Definition of auction ring from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of auction ring?
Add Cambridge dictionaries to your browser to your website
Word of the Day

carnival

(a special occasion or period of) public enjoyment and entertainment involving wearing unusual clothes, dancing, and eating and drinking, usually held in the streets of a city

Word of the Day

Chest pains and palpitations: talking about illness (2)
Chest pains and palpitations: talking about illness (2)
by Liz Walter,
February 03, 2016
My previous post (My leg hurts: Talking about illness (1)) presented some general vocabulary to use at the doctor’s. This one looks at some more specific areas of illness and explains some useful words and phrases that you may need to use or understand on a visit to the doctor’s. There are several

Read More 

awesomesauce noun
awesomesauce noun
February 01, 2016
slang the state of being extremely good or enjoyable or something or someone that is extremely good or enjoyable Recovering from the awesomesauce of another fab #Vidcon!!

Read More